Banks usually offer higher interest rates for its senior citizen customers

Earn up to 7.85% FD rate: Which bank is offering highest fixed deposit rate for senior citizens? Here is a comparison of the FD rates offered for senior citizens by these banks and the latest revised SBI FD interest rates

The State Bank of India has hiked its fixed deposit interest rates on select tenures below one year for senior citizens. The new rates are effective from May 15, 2024. Banks usually offer higher interest rates for its senior citizen customers. Here is a comparison of the FD rates offered for senior citizens by these banks and the latest revised SBI FD interest rates.

SBI FD interest rates

The bank has hiked its fixed deposit interest rates by 75 basis points (bps) on deposits maturing between 46 days and 179 days from 5.25% to 6% for senior citizens.
SBI raised the interest rate on the tenure of 180 days to 210 days by 25 bps from 6.25% to 6.50% for senior citizens.

The bank has hiked FD rates by 25 bps on tenure of 211 days to less than 1 year from 6.50% to 6.75% for senior citizens.

HDFC Bank FD rates for senior citizens

The bank offers interest rates between 3.50% to 7.75% on tenures ranging from 7 days to 10 years for amounts below Rs 2 crore. The highest interest rate of 7.75% is offered on tenure of 18 months to

ICICI Bank FD rates for senior citizens

The bank offers interest rates between 3.50% to 7.75% on tenures ranging from 7 days to 10 years for amounts below Rs 2 crore. The highest interest rate of 7.75% is offered for tenure of 15 months to less than 2 years. The rates are effective from February 17, 2024.

Axis Bank FD interest rates

The bank offers interest rates between 3.50% to 7.85% on tenures ranging from 7 days to 10 years for amounts below Rs 2 crore. The highest interest rate of 7.85% is offered for tenure of 17 months

Canara Bank FD interest rate

The bank offers interest rates between 4% to 7.25% on tenures ranging from 7 days to 10 years for amounts below Rs 2 crore. The highest interest rate of 7.75% is offered for tenure of 444 days. The rates are effective from February 19, 2024.

PNB FD interest rates

The bank offers interest rates between 4% to 7.75% on tenures ranging from 7 days to 10 years for amounts below Rs 2 crore. The highest interest rate of 7.75% is offered for tenure of 400 days. The rates are effective from April 12, 2024.


This story originally appeared on: India Times - Author:Faqs of Insurances